GPERAK-AnnualReport2009 (1MB).pdf - Bursa Malaysia

annual report 2009 | Gula peraK BerHaD (8104-X)
STATEMENT ON CORPORATE GOVERNANCE (Cont’d)
DIRECTORS’ REMUNERATION
The remuneration of the Directors is determined based on the responsibility, contribution and performance of each Director.
Directors do not participate in decisions regarding their own remuneration packages and directors’ fees must be approved by
the shareholders at the AGM. The aggregate remuneration of the Directors categorised into appropriate components and
analyzed into bands of RM50,000 for the financial year ended 31 March 2009 is set out below:
Salaries (RM) Fees (RM) Total (RM)
Executive 1,452,000 – 1,452,000
Non-Executive – 72,000 72,000
Number of Directors
Range of remuneration Executive Non-Executive
Less than RM50,000 – 3
RM50,000 to RM100,000 – –
RM100,001 to RM150,000 – –
RM150,001 to RM200,000 4 –
RM200,001 to RM250,000 – –
RM250,001 to RM300,000 1 –
Above RM300,000 1 –
SHAREHOLDERS
The board aims to ensure timely disclosure of information to all shareholders. The Company keeps the shareholders abreast of
the overall financial performance and future developments of the Group through its annual report and accounts, timely release
of quarterly financial results made through Bursa Securities as well as press releases and circulars where appropriate.
The AGM remains the principal forum for communication and dialogue with shareholders. The AGM provides the opportunity
for interaction amongst shareholders, Directors and Management, where the shareholders are at liberty to raise questions on
the AGM agenda. Press conference is normally held after the AGM to brief members of the Press on the performance of the
Group for the benefit of potential investors as well as for shareholders who are unable to attend the AGM.
ACCOUNTABILITy AND AUDIT
The Audit Committee oversees the financial reporting and internal control system of the Group. The Audit Committee
comprises of two (2) Independent, Non-Executive Directors and one (1) Non-Independent Non-Executive Director. The primary
responsibilities of the Audit Committee are set out in the Audit Committee Report on pages 21 to 23
FINANCIAL REPORTING
The Board is responsible to ensure that the financial statements of the Company and of the Group are made out in accordance
with applicable approved accounting standards in Malaysia and the provisions of the Companies Act, 1965.
Through the continuing disclosure of the Group’s financial position via timely announcement of quarterly and audited results,
shareholders are kept abreast of the Group’s performance throughout the financial year. The Audit Committee assists the Board
by reviewing the disclosure and information to ensure completeness, accuracy and validity of the information in the reports.
INTERNAL CONTROL
The information on the Group’s internal control is presented in the Statement of Internal Control.
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